The much-anticipated launch of Terra’s new blockchain took place today, as planned. The network has produced its first block, and additional services are expected to go live soon.
- Terra’s team took it to Twitter today to reveal that the new chain has officially gone live and is already producing blocks.
Block 1 of the brand new Terra blockchain (with a chain_id of “Phoenix-1”) has officially been produced at 06:00 AM UTC on May 28th, 2022!
- The team also revealed that users are currently able to do “multiple things” with their liquid LUNA, such as staking it to preferred validators, earning rewards, participating in government decisions, and so forth.
- It’s also worth noting that this is a new blockchain and not a fork, therefore, decentralized apps from the classic chain would need to relaunch on the new one.
- With that said, one of the most pressing questions that many people are wondering is if centralized exchanges and service providers will support the airdrop.
- There are multiple platforms that have already announced they will, and these include, but are not limited to: Huobi, Binance, KuCoin, Bitrue, FTX, Bitfinex, GateIO, ByBit, Nexo, and so forth.
- It’s worth noting that holders will receive a portion of their airdrop now, and the rest over will be vested over a certain period of time.